“…The aforementioned empirical research results show how the spatiotemporal context of the biopharmaceutical industry at the macro level, measured by distance and time, affects the R&D expenditure of biopharmaceutical companies at the micro level. The empirical findings are consistent with the SSP theory, i.e., the spatiotemporal context will affect the behavior of biopharmaceutical companies, including R&D investment (Gu, 2021a(Gu, , 2021b(Gu, , 2020. In other words, this study supports the context-sensitive thesis.…”